Today’s Financial Message Just for you, {{ first name | Friend}}
Financial goals become reality through thoughtful separation. Break your aspirational dreams into bite-sized, achievable milestones. Giant goals feel overwhelming, and limit... Continue Reading
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7 Important Tips for Managing Your Small Business Finances
Starting a business is nothing like entering any kind of career path.
When you start a small business, you’ve also entered a new world of finance. The nature of your income, expenses, and even taxes are now completely different.
It can feel like a whole whirlwind of questions, leaving you spinning with what to do first.
So, how do you make sure you’ve got all the bases covered when it comes to small business finances?
Should You Pay or Keep Debt? Compare the Two & Check the Benefits
Deciding whether you should pay or keep debt is a huge decision.
On one side, if you pay off your debt, you are debt free and have more disposable income that can be used for other financial goals.
On the other hand, the money that goes towards paying off debt could be used for savings and investing. This could provide you with a bigger return.
One isn’t better than the other, because it depends on where you are and which option is right for you. Let’s take a look.
A thought: Before we get into the benefits of whether you should pay or keep debt, something everyone should consider up front is the interest rates.
If you choose to save your money in say, a Certificate of Deposit that earns you an average of 2% interest, instead of paying off a credit card debt at 22% interest, you will be paying more money in interest than you would be saving. Make sure to check these details as you make this decision!
Today’s Affirmation
I am incredibly grateful for the chance to increase my income. I’m zeroed in on the abundant life I envision for myself. Thinking about my financial situation brings... Continue Reading